The News In Shorts

How the news would look if everyone stopped waffling and told the truth.

Wednesday, 12 December 2012

HSBC Bosses Get Away With It.

The world's largest "local" bank was today found guilty of laundering billions of pounds for criminal organisations that are far from local. The man who was in charge of the bank at the time, Lord Green who is now Minister of State for Trade and Investment in Cameron's shambolic government, has made no intelligible response. This is strange since, as anyone who has ever worked in a bank knows, the money laundering laws are well known, it is relatively easy to spot and anyone who even suspects that it is going on is obliged to report it immediately to the necessary authorities. The group chief executive, Stuart Gulliver, stated that "We accept responsibility for our past mistakes," and "We have said we are profoundly sorry for them, and we do so again." And, apart from a $1.9 billion fine which will undoubtedly be paid for out of the money that we gave them, that's about it. That is even stranger since, if you or I had been caught red-handed smuggling even a measly few million in a suitcase, we would have found ourselves in prison for several decades. The idea that the whole thing came about because of a "mistake" is risible - it came about because of a deliberate disregard for the law and a systematic criminality by those who ran the bank. Who are these people who can create a giant Ponzi scheme that crashed the world economy, who are rewarded with huge bonuses for running grossly inefficient businesses, can help themselves to tax payers money to shore up their bankrupt empires and can, it now appears, commit any crime they like with personal impunity? HSBC is not the world's largest "local" bank, it's branches are merely the local offices for international organised crime.

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